Our Dispute Resolution team successfully represented the client in a protracted shareholder dispute. After winning 4 cases that went through all court instances, the shareholder dispute was only halfway through. At the end of 2019, the parties still litigated over: (i) the obligation to recalculate the voting results of the Shareholders’ General Meeting in accordance with the voting agreement, seeking to distribute dividends to shareholders (“voting” case); (ii) a preventive suit concerning a ban on the sale of client’s shares to anyone other than the parties to the dispute (preventive suit); and (iii) a fine for breach of a shareholder agreement (“fine” case).
After a few months of negotiation and 2 mediation sessions at the Supreme Court of Lithuania, our team managed to negotiate the sale of the client’s shares to another party at an acceptable price for the client. The parties have signed 5 Settlement agreements (2 umbrella agreements and 3 settlements, one in each case). The Settlement agreements were approved by the court and all three cases were closed.